"This data out of China, to an extent, hit a sweet spot. Firstly, it shows price growth is tracking at a steady pace while at the same time subdued enough to leave the PBOC capacity to act if needed," said Stan Shamu, market strategist at IG.

For the week, the Shanghai Composite and Australia's S&P ASX 200 were the region's top performers with gains exceeding 3 percent each while the Nikkei underperformed with a 1 percent loss.

Internet stocks were among the top winners. Social networking firm Mixi soared 19 percent after raising its annual earnings outlook and Yahoo Japan rose 3.7 percent following a stock upgrade from Goldman Sachs.

Australia's benchmark index jumped to a six-week high, breaking five straight weeks of losses. Meanwhile, the Australian dollar climbed back above 90 U.S. cents following the previous session's 1 percent decline.

Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent said that if the currency is able to sustain a lower exchange rate compared to last year's levels, economic growth will see a boost.

South Korean shares ended at their highest levels this month thanks to strong gains in automakers; Hyundai Motor and Kia Motors rose over 2 percent each.

Still, the benchmark Kospi has been trading below its 200-day simple moving average of 1,951 points since January 23.

Apple suppliers gained after the tech giant said that it found better working conditions across its suppliers' factories in its annual supply chain review. LG Innotek rose over 3 percent while LG Display rose over 1 percent each.

Emerging markets gain

Indonesia's Jakarta Composite finished higher by 0.3 percent while the rupiah soared to a more than two-month high against the dollar after the central bank kept rates steady on Thursday on a narrower current account deficit.

Indian shares tacked on 0.8 percent ahead of the closely-watched wholesale price index (WPI)later on Friday which eased to an eight-month low of 5.05 percent in January.